Chi-FX Brazil, a platform developed through the alliance between Chi-X Global and BVMF3, is expected to be launched in 4Q12, Finextra reported. The venue will leverage a real-time FX feed, and will enable registered institutional and retail investors based outside Brazil to trade shares listed on BVMF3 in their own local currency.
CETIP requested authorization from Commisao de Valores Mobiliarios (CVM) to open a clearing house. CETIP COO, Wagner Anacleto, said that CETIP does not intend to compete in segments where BVMF3 operates, nor provide clearing services to international exchanges interested in entering Brazil. Rather, CETIP intends to be able to offer more products in fixed income and OTC derivatives and new services such as securities lending and clearing.
BVMF3 has been urged to open up its clearing house and to allow rivals access to it, according to the study by Oxera Consulting. The study also found that competition would benefit investors and boost economic growth but that it would also likely increase regulatory costs.
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